The FCA issued a highly critical Dear CEO letter to firms offering execution only CFD trading services, finding significant fault with the sectors' approach to assessing whether those products are appropriate for their clients. 

Given its tone it will be a brave CFD firm that does not take steps to review and enhance its appropriateness testing regime. Similar in tone letters in other sectors have amounted to a "you were warned" communication and the FCA has subsequently taken action against firms on the basis they should have fixed their processes when they received the Dear CEO letter.